Asia Alternatives raises $1.8b for deal machines

The fund of private equity funds sees China dealmakers offering more downside protection in wake of IPO shutdown and eking out deals in midst of economic reform.

Asia Alternatives said on Wednesday it has raised over $1.8 billion to back private equity fund managers at a time when reform in China is creating deal opportunities and prompting more cautious structuring.

The fund of private equity funds expects to deploy roughly half of the fund in Greater China, the region’s biggest PE market by volume.